Tuesday, October 6, 2015

NZD/USD firmly bid on longer dated sticks

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6507 with a high of 0.6531 and a low of 0.6437.

The bird has entered a phase of consolidation on the 0.65 handle after a long drift higher from the depths of the 0.63 handle towards the end of September's business.

NZD/USD has recovered with conviction above the 50 DMA on the daily sticks and is now awaiting further impetus having been supported in a better risk environment while last week's Nonfarm Payrolls signalled to the market that the Fed will not be hiking this month or potentially not until 2016 at some stage.

NZD/USD levels

NZD/USD is supported at the 20 SMA and by the 50 SMA lower down on the hourly sticks while MACD is stabilizing above the midline in positive territory on the 4hr chart. The price remains in bearish territory below the 0.72 handle while the 200 DMA is at 0.7104 with RSI on the same time frame through 50 allowing for further upside potential with daily MACD moving more positive as well.
For more information, read our latest forex news.

No comments:

Post a Comment